Semanteon Capital Management LP Buys Shares of 50,528 Cenovus Energy Inc. (NYSE:CVE)

Semanteon Capital Management LP bought a new stake in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 50,528 shares of the oil and gas company's stock, valued at approximately $845,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CVE. LVW Advisors LLC bought a new position in shares of Cenovus Energy in the 1st quarter worth $240,000. First Trust Direct Indexing L.P. bought a new position in shares of Cenovus Energy in the 1st quarter worth $215,000. Maryland State Retirement & Pension System raised its position in shares of Cenovus Energy by 10.8% in the 1st quarter. Maryland State Retirement & Pension System now owns 314,445 shares of the oil and gas company's stock worth $6,507,000 after acquiring an additional 30,715 shares in the last quarter. Principal Financial Group Inc. bought a new position in shares of Cenovus Energy in the 1st quarter worth $729,000. Finally, Van ECK Associates Corp raised its position in shares of Cenovus Energy by 3,330.2% in the 1st quarter. Van ECK Associates Corp now owns 768,527 shares of the oil and gas company's stock worth $15,363,000 after acquiring an additional 746,122 shares in the last quarter. 51.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CVE shares. BMO Capital Markets dropped their target price on Cenovus Energy from $33.00 to $31.00 and set an "outperform" rating on the stock in a research note on Friday, October 4th. TD Securities downgraded Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 1st. StockNews.com upgraded Cenovus Energy from a "hold" rating to a "buy" rating in a research note on Monday. Finally, Scotiabank dropped their price target on Cenovus Energy from $35.00 to $34.00 and set a "sector outperform" rating on the stock in a research note on Friday, July 12th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $30.75.

Cenovus Energy Stock Performance

Shares of CVE traded down $0.21 during mid-day trading on Monday, reaching $16.69. The company had a trading volume of 6,184,081 shares, compared to its average volume of 8,857,483. Cenovus Energy Inc. has a 52-week low of $14.69 and a 52-week high of $21.90. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $31.02 billion, a P/E ratio of 9.27 and a beta of 2.04. The stock has a 50 day moving average of $17.41 and a two-hundred day moving average of $18.98.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last released its quarterly earnings results on Thursday, August 1st. The oil and gas company reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.13). The business had revenue of $10.88 billion during the quarter, compared to analyst estimates of $9.78 billion. Cenovus Energy had a return on equity of 16.61% and a net margin of 8.56%. On average, analysts expect that Cenovus Energy Inc. will post 1.84 earnings per share for the current year.

Cenovus Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.132 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.53 dividend on an annualized basis and a yield of 3.16%. Cenovus Energy's payout ratio is 29.44%.

About Cenovus Energy

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.